10 Things To Look For When Buying A Used EV

Buying a used vehicle can be a headache if you try your best to play it safe and check off all the boxes. This becomes even more true when searching for a used electric vehicle (EV). EVs are one of the newer kids on the block within the automotive industry and everything that you learned as a kid about cars is mostly thrown out the window because EVs run and perform differently.

Over the course of 10 years, various automotive brands such as Tesla, Hyundai, Kia, and many more have put out some great electric vehicles, and you’re now at a point where buying a used EV may be better than buying a new one. If you’re searching for a used EV but want to cover all tracks before buying, you’ll want to look into these ten factors.

In order to give you the most up-to-date and accurate information possible, the data used to compile this article was sourced from various manufacturer websites and other authoritative sources, including KellyBlueBook, energy.gov, J.D. Power, and IRS.gov.

1

Depreciation And Projected Vehicle Value

All types of vehicles are prone to depreciation, but EVs sit high up on the list when it comes to retaining their value. This disadvantage is split into two parts: higher rates of depreciation than a non-electric car and higher transaction prices. There’s some good news, though, because a perk of buying used is that you get a good chunk of depreciation out of the way.

How To Look Into A Vehicle’s Depreciation

The average car depreciates by 20-percent within the first year. There are many factors for this, but one main one is that when you roll off of the dealership lot, expect to lose ten percent of your car’s value. New vehicles tend to depreciate quite a lot in the first two to three years, but it will start slowing down. This isn’t the case for every used car, especially electric vehicles, so it’s always good to research ownership costs and depreciation calculators from reputable sites such as KellyBlueBook, Edmunds, and CarEdge. There’s a chance you’ll find models that hold their values better than others, unlike these 10 models.

2

Charging Levels And Recharging Times

By the end of this, you’ll learn a lot but still feel left with plenty of research to do. That’s because buying a used car really comes down to personal preferences and where you’re at in your own life. The next area up for consideration is the differences in charging levels and recharging times. While EVs are “Plug And Play”, there’s much to learn before you hop in one.

A Look At The Levels Of Charging, Along With Recharging Times

• Level 1: 120 Volts, Often charging an EV in 10-60 hours.
• Level 2: 220 Volts, Often taking between 4 and 10 hours to charge.
• Level 3/DC Fast Charging: 400-1000 Volts, Often charging a car fully in 30-40 minutes.

The area that keeps most automotive brands on the run for consumers’ attention is the charging capacities and times. Most EVs on the market will offer different charging times and levels, making it an important area to research. It’s another case that comes down to the individual due to personal preference.

The downside to buying a used EV sometimes, depending on the year, is that many car brands, like Tesla or Hyundai, are constantly improving their batteries, leaving most older models to be outdated. The electric automotive industry is continually evolving; an example is that some overseas car brands are just now incorporating more American port compatibility into their models. Another area to note is the charging stations around your home and if they’re compatible with your preferred used EV.

3

Maintenance And Repairs

When you’re looking at the statistics on the depreciation of used EVs, maintenance, and repairs are another area that typically sits right next to those numbers. Every model is different, but you can expect lower ownership costs due to EVs being mechanically simpler than ICE vehicles. While you’ll save an average of 50 percent on maintenance and repairs than ICE owners, there are still plenty of used EVs on the market that will rack up your bills.

Past And Future Maintenance And Repairs

The issue sometimes with buying a used car, especially an electric vehicle, is that most problems will come later in their life. A large part of this is the battery on the used EV and how long the manufacturer says the lifespan is. There’s much to discuss about the battery, but you’ll learn more about it soon. Similar to the depreciation explanation above, the ownership costs will let you see the trends of how much you can expect to pay on repairs and maintenance in the future. It’s also not about what to expect in the future but also its previous history. It’s in your best interest that the seller comes with paperwork about the vehicle’s history.

4

Compare The Reliability Score Of Different EVs

Buying a used car can be scary, or for some, it can be the best experience they’ve had in a while. Every buyer will have their own wants and needs, but one that you shouldn’t turn a blind eye to is its reliability. At this point, you may think that buying a used car seems like a lot of homework, but it’s one of those cases where you’ll thank yourself later.

How To Determine A Used Electric Vehicle’s Reliability

There is a lot to unpack when exploring a vehicle’s reliability, but similar to the ownership cost calculator, there are many reputable companies that put a lot of time and work into finding out its flaws. Companies such as J.D. Power, Consumer Reports, and iSeeCars offer extensive research on reliability scoring. This may be too much for some, and you can always go to your favorite automotive website, TopSpeed, with countless articles about used EVs and reliability. It’s another important step in buying a used EV so you can discover accurate and dependable information on used electric cars and their reliability.

5

EV Tax Credits

Some may not know that electric vehicles qualify for tax credits and rebates. Even fewer people may know that some used models also qualify, which, in return, will save you money. Like everything above, there is much to unpack with cash deductions on a used EV, but it’s worth it in the end.

Who And What Models Qualify For EV Incentives

According to the IRS, you can qualify for credits and deductions if you bought an EV from a licensed dealer for $25,000 or less. The credit will equal to 30-percent of the sale price, up to a maximum credit of $4,000. Other areas of qualification include the taxpayer or joint filers’ income must be below $150,000 and can’t be a dependent claimed on another taxpayer’s tax return. There are a lot of restrictions, but after a quick run down, you’ll get the gist in a matter of minutes. For people interested in some models that qualify, they include the Nissan Leaf, Chevrolet Bolt EV, many Tesla models, and more.

6

Recalls And Safety

The last area that fits in with depreciation, repair, and maintenance costs is its recalls and safety. Due to EVs still being a new field within the automotive world, along with this industry constantly evolving, it leaves many models popping up with recalls. The other area you should always look into when buying a new or used model is its safety.

A Dive Into Recalls And Safety On Used Electric Vehicles

Recalls are typically unavoidable, but the good part here is that car brands are obligated to fix them on their own dime. However, you can still learn a lot through its previous recalls, which can paint a picture of whether the model looks promising or not in dependability. Recalls fall under safety, which can easily be searched through organizations such as IIHS and NHSTA. These establishments run every vehicle through the same ringer, allowing you to discover the rollover, side, rear, and front crash ratings. The plus side here is that the NHSTA provides both safety ratings and recalls. Many of these concerns all connect to one another and ultimately come down to the reliability of the used EV.

7

Battery Degradation, Lifespan, And Warranty

Arguably one of the top factors that you should look into when buying a used EV is its battery. Unlike a traditional gasoline-powered vehicle, most manufacturers give a predicted lifespan for the batteries in their vehicles. It’s worth noting that car brands offer many models with long battery life spans, but it all comes down to which models offer reliable batteries.​​​​​​​

A Breakdown Of What To Look Into With EV Batteries

Battery replacements can cost a lot, and this can be seen in one of the more sought-after EVs, the Tesla Model 3. You can expect to pay between $12,000 to $20,000 for a battery replacement on the Tesla Model 3. There is a catch though, and that’s the battery’s warranty. Every car brand offers different warranties on their electric vehicles, but they are in the same ballpark.

Some examples include Volkswagen’s 8-year/100,000 warranty, Kia’s 10-year/100,000 warranty, and Lexus’s 10-year/150,000 warranty. Warranties sound nice but may not be helpful in the long run, with the average EV battery lasting 10-20 years. This is why you should research the batteries from the car brand and the desired used model to find out what the future holds.

8

How Climate Affects EVs Along With Charging Costs

Many factors play a role in how an electric vehicle behaves, and one that might go unnoticed is the effect of climate. While many of these points pertain to used models, this one is one to consider with the overall ownership of EVs.​​​​​​​

How Weather Affects Your Battery

As discussed, you know the overall gist of battery degradation in electric vehicles. The weather can play another part in your battery’s life expectancy, either adding or removing multiple years. Cold weather can take up to 30-percent of a battery’s charge away. Some EVs come equipped with battery warmers for countermeasures, which is a reason to see if a certain used EV comes with one. It’s the opposite for EVs in warmer climates, with some EVs utilizing cooling systems to try and further their batteries’ lifespan due to batteries not thriving in sun-blistering conditions. ​​​​​​​

9

How The Technology Holds To Current Standards

Technology is something that may not affect too many people, but if you’re trying to keep up-to-date tech on your used vehicle, then, as expected, there is a bit of research to be done. Technology is a major area in the electric automotive industry that is constantly evolving. The overall aesthetic of EVs is futuristic designs and out-of-this-world technology. This leads to many models and their features being left in the dust.​​​​​​​

Why It Should Be A Concern Of Outdated Technology

A quick example of how this could be disappointing or problematic is your everyday smartphone devices. While you can use an older-generation smartphone, you start to see new gadgets and features on the new-gen ones year after year. This sometimes leads to companies leaving the older generations to deal with themselves with minimal support and updates. This isn’t the case for every car brand or used EV, but it is the case for some. Since there are used electric cars that hold up over time, it’s still smart to look over the technology in the desired EV because that’s one of the biggest selling points within this field. You’ll want an EV where the technology surrounding the used model doesn’t go haywire or start to glitch out.

10

A Look Into The Car Brand

Buying a vehicle is sometimes like owning a business and bringing in a new partner. There is a lot of trust in owning a car, which multiplies when you consider it with a used vehicle. As you’ve seen above, there are many factors worth considering before you buy a used vehicle, and the last one is learning about the car brand you’re buying from.​​​​​​​

Why It Matters To Stand Behind Your Vehicle’s Manufacturer

This last area isn’t as crucial as some others, but it’s more important than you’d think. This process is one that most people do without even knowing. When you’re browsing for a new or used vehicle, you start to research the brand before the models. This is more important when it comes to used EVs because you’ll want to see the car brand’s history and how their models hold up over time.

Questions will arise, such as “Do their batteries offer a long lifespan?”, “is the brand known for being reliable?” “Are their used models worth buying?”. It isn’t that deep, but at the same time, it is beneficial when buying a used electric car. To cut to the chase and give you a head start, various brands that deal with EVs that offer great used models are Tesla, Volvo, Lexus, and Hyundai.